Ameresco and Manchester Housing and Redevelopment Authority Execute $3.5 Million Energy Performance Contract
FRAMINGHAM, MA and MANCHESTER, NH – January 23, 2012 – Ameresco, Inc., (NYSE:AMRC), a leading energy efficiency and renewable energy company, announced today the execution of a $3.5 million energy performance contract with the Manchester Housing and Redevelopment Authority (MHRA). The project will provide water and energy efficiency upgrades to more than 1,100 MHRA housing units, and is expected to save over $8.5 million for the Authority over the 20 year contract term.
“We are pleased to enter into this partnership with Ameresco,” said Dick Dunfey, MHRA executive director. “The HUD energy performance contract program uses the energy and water savings to leverage private capital to cover the costs of the improvements, so there is no ‘out-of-pocket’ cost to the MHRA.”
“Energy efficiency can drive infrastructure reinvestment to support the goals of public and private entities,” said David J. Anderson, executive vice president, Ameresco. “For government agencies faced with limited budgets, energy performance contracting offers a budget neutral solution to replace existing inefficient energy systems and improve infrastructure while saving money. For MHRA, this strengthens their ability to address energy-related needs in their property portfolio.”
Kenneth Edwards, MHRA assistant executive director, indicated that the $3.5 million scope includes water and lighting efficiency upgrades, upgraded apartment temperature controls, building weatherization, cogeneration at one of MHRA’s high rise developments, and mechanical system upgrades for space heat at several other sites. Construction will begin in early 2012 and continue for about 12 months.
The U.S. Department of Housing and Urban Development (HUD) energy performance contract program provides incentives to public housing authorities across the country to implement energy and water savings improvements to their housing units. Since its inception about 20 years ago, over 200 public housing authorities nationwide have participated in the program, which has leveraged over $700 million in energy and water improvements.
MHRA provides subsidized housing to low and moderate income individuals and families. In addition to conventional public housing within the City of Manchester, MHRA administers rental assistance programs such as the Section 8 Housing Choice Voucher Program and has developed housing on its own and in partnership with other developers. MHRA began operating its public housing program in 1945 with 85 units of temporary war housing and has grown substantially throughout the years. In total, MHRA is responsible for the provision of 3,647 units of housing or housing assistance, including:
• 1,168 Public Housing Units
• 102 HODAG Units
• 1,813 Housing Choice Vouchers
• 104 VASH Vouchers
• 100 Non-Elderly Disabled Vouchers
• 132 Tax Credit Units
• 228 Partnership (Public/Private) Units
About Ameresco, Inc.
Founded in 2000, Ameresco, Inc. (NYSE:AMRC) is a leading independent provider of comprehensive services, energy efficiency, infrastructure upgrades, and renewable energy solutions for facilities throughout North America. Ameresco’s services include upgrades to a facility’s energy infrastructure and the development, construction and operation of renewable energy plants. Ameresco has successfully completed energy saving, environmentally responsible projects with federal, state and local governments, healthcare and educational institutions, housing authorities, and commercial and industrial customers. With its corporate headquarters in Framingham, MA, Ameresco provides local expertise through its 59 offices in 34 states and five Canadian provinces. Ameresco has more than 850 employees. For more information, visit www.ameresco.com.